Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,154,636 members, 7,823,793 topics. Date: Friday, 10 May 2024 at 03:20 PM

Living Expenses - Family - Nairaland

Nairaland Forum / Nairaland / General / Family / Living Expenses (1665 Views)

Which Expenses Should The “Upkeep” Money/Allowance Cater For? / An Average Home Monthly Expenses: / Tiv Elders Ban Traditional Marriage Festivities, Peg Expenses At N100k (2) (3) (4)

(1) (Reply) (Go Down)

Living Expenses by uvie66: 11:14am On Feb 27, 2021
I intend to relocate to Lagos this year after over twenty years in London and was wondering if I could survive on 100k a month. No accommodation cost included as I have a house already. Just living expenses for I and my wife.
Re: Living Expenses by Bola146(f): 11:17am On Feb 27, 2021
Lagos people should answer this.

I'll say yes depending on how you conclude with your wife. Also location of your house to work.

1 Like

Re: Living Expenses by fineboynl(m): 12:42pm On Feb 27, 2021
I don't think so oh. 100k is what I burn in 2 months for feed and house hold running cost alone. if I had clothes and evening hangout with drinks it won't even last 1 months.

things are fucking expensive right now. except you want to be eating poor low-key food.

to get a soup you will need 5k meat that might last 1 week. note that you won't be eating the soup alone. when you add electricity and cable tv. and maybe few hangout and other expenses. well if you manage it it might go far.
Re: Living Expenses by pozehnani(f): 1:06pm On Feb 27, 2021
uvie66:
I intend to relocate to Lagos this year after over twenty years in London and was wondering if I could survive on 100k a month. No accommodation cost included as I have a house already. Just living expenses for I and my wife.

Depending on your style and taste, 100k might be or may not be enough.

If you choose to live like a typical Londoner, you'll survive but if come here and start rubbing shoulders and copying some Nigerian celebrities and bankers who live beyond their means to impress then, 100k will not be enough.

5 Likes

Re: Living Expenses by pozehnani(f): 1:12pm On Feb 27, 2021
fineboynl:
I don't think so oh. 100k is what I burn in 2 months for feed and house hold running cost alone. if I had clothes and evening hangout with drinks it won't even last 1 months.

things are fucking expensive right now. except you want to be eating poor low-key food.

to get a soup you will need 5k meat that might last 1 week. note that you won't be eating the soup alone. when you add electricity and cable tv. and maybe few hangout and other expenses. well if you manage it it might go far.

Bro Linus, which 100k you dey burn for feeding? grin. Fear God o.

5k meat for what na? So another pot of soup, you'll buy meat 5k? That's too much because you'll buy other things like stock fish, dry fish and bonga. If you say all these will run into 5k I'll agree but using 5k for meat alone is long throat.

Mind you, it's just him and the wife. Even if they are three.

5 Likes

Re: Living Expenses by fineboynl(m): 3:37pm On Feb 27, 2021
pozehnani:


Bro Linus, which 100k you dey burn for feeding? grin. Fear God o.

5k meat for what na? So another pot of soup, you'll buy meat 5k? That's too much because you'll buy other things like stock fish, dry fish and bonga. If you say all these will run into 5k I'll agree but using 5k for meat alone is long throat.

Mind you, it's just him and the wife. Even if they are three.
why do you think I'm lying do you know what 5k meat look like? it's evidently clear you are not eating meat.

5 Likes 1 Share

Re: Living Expenses by pozehnani(f): 4:32pm On Feb 27, 2021
fineboynl:
why do you think I'm lying do you know what 5k meat look like? it's evidently clear you are not eating meat.

Maybe because you're a guy, they'll sell 1500 meat 5k to you. So I'm not disputing that. The area also matters. Though because of the ongoing issue with the fulani herdsmens, the price of meat has gone up a bit ( in my area unlike before) but that just only started recently. I also heard abbatoir will be shut down this week. So that could be the only reason 3k meat will not be enough for a family pot of soup.

2 Likes 1 Share

Re: Living Expenses by FatherCHRISTMAS: 6:12pm On Feb 27, 2021
uvie66:
I intend to relocate to Lagos this year after over twenty years in London and was wondering if I could survive on 100k a month. No accommodation cost included as I have a house already. Just living expenses for I and my wife.

As a family man, you could survive Lagos on 100k budget for a month since you have a house.

you only need to bother about transportation and getting a job as soon as possible so that your reserve wouldn't diminish

3 Likes

Re: Living Expenses by legacystore: 6:39pm On Feb 27, 2021
uvie66:
I intend to relocate to Lagos this year after over twenty years in London and was wondering if I could survive on 100k a month. No accommodation cost included as I have a house already. Just living expenses for I and my wife.

Depends on your life style

One man's need is another man's want

1 Like

Re: Living Expenses by uvie66: 6:47pm On Feb 27, 2021
FatherCHRISTMAS:


As a family man, you could survive Lagos on 100k budget for a month since you have a house.

you only need to bother about transportation and getting a job as soon as possible so that your reserve wouldn't diminish
I am 55 years old....and have potential rental income of 2 mil from my houses, do I still need to work ?
Re: Living Expenses by FatherCHRISTMAS: 6:49pm On Feb 27, 2021
uvie66:
I am 55 years old....and have potential rental income of 2 mil from my houses, do I still need to work ?

you will definitely get bored and tired of sitting at home all day without engaging is productivity either mentally or physically... ( commercial wise)

1 Like 1 Share

Re: Living Expenses by uvie66: 6:53pm On Feb 27, 2021
FatherCHRISTMAS:


you will definitely get bored and tired of sitting at home all day without engaging is productivity either mentally or physically... ( commercial wise)
you are right....I will this definitely need to be doing something.
Re: Living Expenses by anthonyuncle(m): 7:06pm On Feb 27, 2021
depending on your lifestyle
Re: Living Expenses by sisisioge: 8:02pm On Feb 27, 2021
No o...

Fuelling for gen
Nepa bill
Food
Toiletries
Other domestic expenses


E no go do o. Except you wont eat.

2 Likes

Re: Living Expenses by Foscons(m): 8:13pm On Feb 27, 2021
uvie66:
I am 55 years old....and have potential rental income of 2 mil from my houses, do I still need to work ?
You still need to work but not 9- 5 jobs.
1.Before coming to Nigeria try study the Nigeria market and look for products in demand that you can bring from the UK.
2. Consulting and freelancing jobs are in demand but it depends on your area of expertise.

1 Like

Re: Living Expenses by Foscons(m): 8:38pm On Feb 27, 2021
uvie66:
I intend to relocate to Lagos this year after over twenty years in London and was wondering if I could survive on 100k a month. No accommodation cost included as I have a house already. Just living expenses for I and my wife.

2 people can survive on 100k a month but it depends on your lifestyles. It would be hard at first for you considering you have stayed in the UK for 20yrs and used to all the basic amenities and perks of life.
Is it for only feeding or General upkeep for both of you ?
For both of you to survive on 100k per month you would have to let go of the UK lifestyle.
You would let go of so many things that you considered basic before. Your location also matters as well.

1 Like

Re: Living Expenses by Kettlecorn: 12:53am On Feb 28, 2021
uvie66:
I intend to relocate to Lagos this year after over twenty years in London and was wondering if I could survive on 100k a month. No accommodation cost included as I have a house already. Just living expenses for I and my wife.
It is possible if you manage you money well and live like a retired Nigerian and not try to replicate the amenities that you currently enjoy in London. But there are two areas where you cannot afford to skimp. Healthcare and security. At 55, you are getting to the age bracket where health issues begin to show up. If you already have pre existing conditions, it will complicate things a little more. Quality Healthcare is very expensive in Nigeria. You will be better served to sign up for a private healthcare insurance with a hospital like St Nicholas in Lagos and that costs a lot of money. You will be missing out on the free healthcare that you can get in London. As for security, hmmmm. You need to be diligent and careful about the area you choose to live. As a JJC, maybe hire security guards or a maigaurd. Depending on your lifestyle, maybe even a housemaid. In the initial months of your return, many relatives will want to come pay homage and you know what that means grin. See how things quickly start adding up?

2 Likes

Re: Living Expenses by Kettlecorn: 1:16am On Feb 28, 2021
One last thing. Even if you ignore all the other advice on this thread, make sure you heed this one. Do not relocate to Nigeria in one single move. This is a continuous project that should span over a period of time. The Nigeria you left over 20 years ago is not the same today, and hopefully you have made some visits since you left so you understand. Make several visits and stay longer each time. Take up a few projects each time you visit like getting a drivers license, opening a bank account, renovating your house, making contacts like barber, Taylor, doctor, pharmacist, dentist, mechanic, etc. You will begin to re understand the culture and reintegrate into society. Finally, establish an emergency exit plan. If things go wrong, can you hop, on the next plane and get out quickly and will you still have a place to return to in London? Wish you the best and hope it all works out fine.

4 Likes

Re: Living Expenses by Klass99(f): 4:09am On Feb 28, 2021
smiley
Re: Living Expenses by Kondomatic(m): 7:45am On Feb 28, 2021
fineboynl:
why do you think I'm lying do you know what 5k meat look like? it's evidently clear you are not eating meat.
You need to be calming down bro.




It's either you're lying or you're being cheated

2 Likes

Re: Living Expenses by fineboynl(m): 1:28pm On Feb 28, 2021
Kondomatic:
You need to be calming down bro.




It's either you're lying or you're being cheated
calm down how? I bought meat yesterday 1k they cult very small small meat of 10 piece they weren't even on the same sized. some look really very tiny when I complained the man cut one small meat to it making 11.
assuming it's 5k meat that would have cut it big big and it won't get to 50 peice. the once they put price you will end up cheating yourself. that what i use to do I will price and buy. but when I discovered it's better to tell them to cut the amount you want and since then I don't price meat again. because when you price and buy and they cut it for you it will be small.

they were really very small and if you hold them in your hand.

you know what I bought tomatoes and peppers N200 and add it up with tin tomatoes N300, rice 5 cups @ N180 each. I filled 12 kg gas 5k. and others expenses and use it to cook small stew that I will eat just yesterday and today. that small meal is over 3k. note that I didn't eat it only. I ate other things like tea and bread.

this are meat you will need not less than 3 in a meal. you just can't stoop so low or go below 2 piece truth me. how is 5000 meat too big for put of soup for someone who is living well or someone who arrived from UK?
Re: Living Expenses by menix(m): 1:15am On Mar 01, 2021
If all these married contract staff, Charge and bail lawyers wey full lagos fit survive with their meager salary, Oga Londoneer u will survive except u intend living big man lifestyle..

Secondly, you are certainly coming back with other savings, use that one get yourself busy else u go turn 'frustrating landlord' wey no go let tenant rent expire..
Re: Living Expenses by frozen70(f): 11:28am On Mar 04, 2021
uvie66:
I intend to relocate to Lagos this year after over twenty years in London and was wondering if I could survive on 100k a month. No accommodation cost included as I have a house already. Just living expenses for I and my wife.

You are yet to give us your reasons for relocating
Re: Living Expenses by lekki1444: 12:52pm On Mar 04, 2021
frozen70:


You are yet to give us your reasons for relocating
he is tired of being second class citizen in oyinbo land. is that not enough reason ?
Re: Living Expenses by frozen70(f): 1:07pm On Mar 04, 2021
lekki1444:
he is tired of being second class citizen in oyinbo land. is that not enough reason ?

Well he will survive in any way so far it's Lagos
Re: Living Expenses by uvie66: 2:22pm On Mar 04, 2021
frozen70:


Well he will survive in any way so far it's Lagos
Lekki 144 you are right
Re: Living Expenses by OkanlawonB(m): 3:06am On Mar 07, 2021
A sure source of future financial security for any retiring legal resident in W. Europe is the Pension, also no matter where you choose to spend your retirement. Oga Londoner why is this not relevant in your own case? In my domain here in europe , the minimum is about 1,000 euros per month.
Is this not a surer financial security than dragging rents from tenants who may be willing but are not able to pay up.
Re: Living Expenses by uvie66: 7:38pm On Mar 13, 2021
OkanlawonB:
A sure source of future financial security for any retiring legal resident in W. Europe is the Pension, also no matter where you choose to spend your retirement. Oga Londoner why is this not relevant in your own case? In my domain here in europe , the minimum is about 1,000 euros per month.
Is this not a surer financial security than dragging rents from tenants who may be willing but are not able to pay up.
naturally i have made contribution to my pension through National Insurance contribution, pension is only payable when one attain the age of 67.
Re: Living Expenses by TheeDetective: 8:11pm On Mar 13, 2021
@ bold; that applies if it is the state pension.

If you have/had a private pension then you will/would have been able to start getting pension payment from the age of 55 years. The amount you get will also depend on how much contribution you had put into the pension pot.

As you had lived in the UK for 20+ years, I hope you were able to contribute into a private pension. You mentioned that you are 55 years; and if you had a private pension, you can now apply to start your monthly pension payment. This in itself is another source of monthly income for you.

There have been good advice given by others here already on this thread and the only thing I will add, will be "If you live modestly; AKA cut your coat according to your size or better still, not wanting to catch up with the Joneses, then 100K should be enough for you to live on monthly". NOTE THE EMPHASIS AGAIN ON "LIVE MODESTLY".

It's a hard economy; and apart from the rental income, you probably may need other form/s of income as well to help in managing unexpected expenses that may arise.
uvie66:
naturally i have made contribution to my pension through National Insurance contribution, pension is only payable when one attain the age of 67.

1 Like

Re: Living Expenses by 1F30M4(f): 9:15pm On Mar 13, 2021
Profound input, Kettlecorn.. OP, he has said it all.. Things ain't really encouraging down here but I believe you & yours will do just fine.
Re: Living Expenses by uvie66: 2:57pm On Mar 14, 2021
TheeDetective:
@ bold; that applies if it is the state pension.

If you have/had a private pension then you will/would have been able to start getting pension payment from the age of 55 years. The amount you get will also depend on how much contribution you had put into the pension pot.

As you had lived in the UK for 20+ years, I hope you were able to contribute into a private pension. You mentioned that you are 55 years; and if you had a private pension, you can now apply to start your monthly pension payment. This in itself is another source of monthly income for you.

There have been good advice given by others here already on this thread and the only thing I will add, will be "If you live modestly; AKA cut your coat according to your size or better still, not wanting to catch up with the Joneses, then 100K should be enough for you to live on monthly". NOTE THE EMPHASIS AGAIN ON "LIVE MODESTLY".

It's a hard economy; and apart from the rental income, you probably may need other form/s of income as well to help in managing unexpected expenses that may arise.
Thanks for the advice

(1) (Reply)

Did Your Parent Use This??? (indomie Generation Back Off) / Why Do Some Baby Fathers Neglect Their Children Welfare? / Heartless Robbers Rape Woman, Three Daughters; Still Steal Their Valuables

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 60
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.